9:00 AM – MORNING MARKET & WATCH LISTS UPDATE

The Nasdaq Composite actually ended at a new all-time, closing firmly above 7,500, topping its last high made on Jan. 26th.

QUOTE OF THE DAY:

“Don’t forget it’s daylight savings time. You spring forward, then you fall back. It’s like Robert Downey Jr. getting out of bed.”– David Letterman

During the previous Friday, the Nasdaq made a bullish price reversal and became the first index to close back above its 50-day line.

Now, the index is the first to breakout.

The S&P 500 closed up +1.7% on Friday, and made its first close above its important 50-day since Feb. 27th.

The Dow Jones industrial Average also posted solid gains Friday of +1.8%, yet could not convincingly reclaim its 50-day.

All three indexes did post their best weekly performance in three weeks, with the S&P 500 +3.5%, the Dow +3.3%, and the Nasdaq +4.2%.

The equity benchmarks have recovered considerably since that late-January low, with the Dow about -5% from its all-time high.

As I stated here last week – “…we can anticipate a continued recovery rally – barring any additional geo-political/economical events. However, as always, will we let our breakouts be our guide.”

I ran my routine stock screens over the weekend and added 2 new stocks to our watch list.

We now have a total of 11 stocks which we will be watching for a possible breakout below.

One stock in particular is HOLI which traded higher on Friday with an increase in volume and looks poised to breakout as soon as Monday morning.

Chart courtesy of stockcharts.com – Click chart to enlarge.

SYMBOL

LAST

ADDED TO WATCH LIST

TRIGGER PRICE

TRIGGER VOLUME

MAX BUY PRICE

% FTP

NVDA

$245.33

3/11/2018

$252.07

2,3965,600

$264.67

N/A

HOLI

$26.61

3/11/2018

$27.32

413,700

$27.94

N/A

BFAM

$100.30

2/25/2018

$98.94

315,150

$103.89

1.37%

CAMP

$23.76

2/3/2018

$25.18

551,400

$26.44

-5.64%

EBS

$52.49

3/2/2018

$51.35

513,750

$53.92

2.22%

MLCO

$28.48

1/31/2018

$30.31

4,321,500

$31.83

-6.04%

SINA

$121.91

2/25/2018

$123.03

1,373,400

$129.18

-0.91%

SKX

$41.38

3/2/2018

$41.64

3,212,250

$43.72

-0.62%

SSD

$58.31

2/3/2018

$61.72

342,750

$64.81

-5.52%

TREX

$107.66

1/28/2018

$118.75

319,650

$124.69

-9.34%

TSS

$90.74

3/2/2018

$90.02

2,011,200

$94.52

0.80%

* % FTP = A stock’s price percentage from its TRIGGER PRICE.

No one has to wait for me to issue any type of alert. Any gains above the stock’s TRIGGER PRICE while the day’s volume is at least on pace to make the TRIGGER VOLUME would have this set up confirming a BUY signal up to the MAX BUY PRICE.

Current Portfolio Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock.

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